Bandhan Bank Q2 net profit up 47.4% at ₹488 crore; Share Price up 5% - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Thursday, October 11, 2018

Bandhan Bank Q2 net profit up 47.4% at ₹488 crore; Share Price up 5%



Bandhan Bank Q2 net profit up 47.4% at ₹488 crore;

NII grew by 55.6% at ₹1,078 crore

CASA ratio at 36.9%

Mumbai, October  2018: 

The Board of Directors of Bandhan Bank Ltd., at a meeting held in Mumbai today approved its Unaudited Financial Results for the Quarter ended September 30, 2018. The accounts have been subjected to limited review by the statutory auditors of the bank.

Key Highlights:
Ø  Loan portfolio (on book + off book) grew 50.9% Y-o-Y at ₹33,373 crore

Ø  Deposit portfolio grew 29.6% Y-o-Y at ₹32,959 crore

Ø  Net NPA at 0.7%

Ø  Retail Deposit to Total Deposit at 81.6%; CASA grew 69.8% Y-o-Y at Rs. 12,176 crore; CASA ratio at 36.9%

Ø  Added 7.60 lakh customers during the quarter; total customer base reaching to 14.41 million

Ø  During the H1FY19, out of ₹ 262.94 crores of PSLC income, ₹ 130.28 crores has been recognized during H1FY19 of which ₹ 66.32 crore has been recognized during Q2FY19

Ø  MTM Loss of ₹37.39 crore in Q2FY19 and ₹ 59.09 crore in H1FY19.

Highlights for the Quarter ended September 30, 2018:

· Net Interest Income (NII) for the quarter grew by 55.6% at ₹1078 crore as against ₹693 crore in the corresponding quarter of the previous year

· Non-interest income grew by 3.1% at ₹230 crore for the quarter ended September 30, 2018 against ₹223 crore in the corresponding quarter of the previous year

· Operating Profit for the quarter increased by 46.9% at ₹874 crore against ₹595 crore in the corresponding quarter of the previous year

· Net Profit for the quarter grew by 47.4% at ₹488 crore against ₹331 crore in the corresponding quarter of the previous year

· Net Interest Margin (NIM) for the current quarter stands at 10.3% against 9.3% in the corresponding quarter of the previous year and 9.7% for FY 2017-18

· CASA ratio at 36.9% of total deposit, compared to 28.2% in the corresponding period last year

· CASA grew 69.8% Y-o-Y at ₹12,176 crore compared to ₹7,170 crore

· Total Advances (on book + off book) increased by 50.9% at ₹33,373 crore as on September 30, 2018 against ₹22,111 crore as on September 30, 2017

· Total Deposits grew by 29.6% as on September 30, 2018 is at ₹32,959 crore as compared to ₹25,442 crore on September 30, 2017.

· Gross NPAs as on 30 September 2018 at 1.3% against 1.3% as on 30 June 2018 and 1.4% as on 30 September, 2017

 · Net NPAs as on 30 September 2018 at 0.7% against 0.6% as on 30 June 2018 and 0.8% as on 30 September, 2017

Key Ratios:
Key Ratios: Particulars (in %)
Q2FY19
Q2FY18
Q1FY19
FY 2017-18
CASA to Total Deposit
36.9
28.2
35.5
34.3
Net Interest Margin
10.3
9.3
10.3
9.7
Cost to Income Ratio
33.2
35.1
34.3
35.0
Return on Average Assets*
4.3
4.2
4.5
4.1
Return on Average Equity*
19.3
26.4
19.9
26.0
Capital Adequacy Ratio (CAR)
32.6
26.3
32.6
31.5
Gross NPA (on book)
1.3
1.4
1.3
1.3
Net NPA (on book)
0.7
0.8
0.6
0.6

Total Banking outlets as on September 30, 2018, stood at 3948. The network consists of 938 branches and 3,010 doorstep service centers. Total number of ATMs stood at 476 as on September 18. The number of employees of the bank has gone up to 30,431.

Commenting on the performance, Mr. Chandra Shekhar Ghosh, Managing Director and CEO of Bandhan Bank said: "The second quarter of FY 2018-19 continues to be promising with advances growing Y-o-Y by 51% and CASA ratio of 36.9%.We expect the momentum to continue in second half of FY 2018-19”.

About Bandhan Bank

Bandhan Bank is the first instance in India of a microfinance entity transforming into a universal bank. It received the 'in-principle' approval from the RBI in April 2014 and the banking regulator's final nod came on June 17, 2015. Bandhan Bank commenced its operations on August 23, 2015, with 501 branches, 2,022 Door Step Service Centers (DSCs) and 50 ATMs across 24 Indian states. The bank was inaugurated by Shri Arun Jaitley, Hon'ble Minister of Finance, Corporate Affairs and Information and Broadcasting, Government of India, in Kolkata at a grand function attended by regulators, policy makers and luminaries from financial sector and corporate India. Bandhan is the first bank to be set up in eastern part of India post-Independence.


Bandhan Bank Q2 net profit up 47.4% at ₹488 crore; Share Price up 5% Reviewed by S. Chitra on October 11, 2018 Rating: 5 Bandhan Bank Q2 net profit up 47.4% at ₹488 crore; NII grew by 55.6% at ₹1,078 crore CASA ratio at 36.9% Mumbai, October  201...

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